Date of Submission
Campus Only Senior Thesis
Bachelor of Arts
Connor B Lehner
This study compared the returns to acquirers from purchasing divested assets and full-scale acquisitions. Merging acquisition details with CRSP stock data and Compustat balance sheet information, I find that divested assets are positively associated with 3-day abnormal cumulative returns but is insignificant. My results are clustered to year in order to explain any correlations across years that could affect 3-day cumulative abnormal returns. This study contributes to the interaction between asset fit and divested assets by finding an opposite effect than past studies.
Lehner, Connor, "Do Divested Assets Outperform Full-Scale Acquisitions in the Short-Run?" (2020). CMC Senior Theses. 2338.
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.